Pegasi Energy Proved Reserves Double to 29.8 Bcfe
Pegasi Energy Resources Corp., an East Texas based oil and gas exploration and production company, announced substantial increase in reserves based on its February updated reserve report.
The increase is due to the previously reported two wells drilled. The February report reflects a reserve base 29.8 BCFE proved, 22.7 BCFE probable, and 212.0 BCFE possible. This compares to the 2007 reserve report of 15.0 BCFE proved, 21.8 BCFE probable, and 217.0 BCFE possible. All reserve numbers are calculated on the company's gross 70% working interest.